Paydayloan Mess

[shortymona]

Hi All,

 

just wondering if you can give me some advice, as a fool i got trapped in a load of payday loans, and for the past 5 months ive only been paying the interest each month.

This is my current situation:

Pounds till payday - £519

EPDL - £500

Payday UK - £412.50

Payday Express - £500

Wageday Advance - £250

 

I've defaulted on PTP and PDU, and i will default on the remaining tomorrow.I've been bombarded with phone calls from PTP which i have not answered, i;ve emailed them advising that at the moment i can only afford £25 a month and they refused it.Payday Express were really good and accepted a payment of £25 per month.

I have sent a letter to the remaining with my income and expenditure sheet and also explained my current situation.Payday UK said to wait until the payment fails and to wait for a phone call.Im yet to hear from EPDL and Wageday.

I've "lost" my card and changed bank accounts.so just waiting to see what happens next.

Can someone pls let me know if they're in similar situation and what happened to your cases?

 

Thanks guys

[Mr Worried]

Hi All,

 

just wondering if you can give me some advice, as a fool i got trapped in a load of payday loans, and for the past 5 months ive only been paying the interest each month.

This is my current situation:

Pounds till payday - £519

EPDL - £500

Payday UK - £412.50

Payday Express - £500

Wageday Advance - £250

 

I've defaulted on PTP and PDU, and i will default on the remaining tomorrow.I've been bombarded with phone calls from PTP which i have not answered, i;ve emailed them advising that at the moment i can only afford £25 a month and they refused it.Payday Express were really good and accepted a payment of £25 per month.

I have sent a letter to the remaining with my income and expenditure sheet and also explained my current situation.Payday UK said to wait until the payment fails and to wait for a phone call.Im yet to hear from EPDL and Wageday.

I've "lost" my card and changed bank accounts.so just waiting to see what happens next.

Can someone pls let me know if they're in similar situation and what happened to your cases?

 

Thanks guys

 

Shorty WOW

 

I think you should start by sending them all a letter outlining your situation regarding finances, 'reg post of course' also tell them that you will only communicate in writing, and when they call tell them that too.

 

They are gonna hasle you like crazy, be up for a long slog here, and scan up any info they send you and we will all offer our help where we can and support when we cant.

 

Good Luck

 

Mr W

[slgsue]

[email protected] is the email address for PTP customer relations team, I emailed them and said basically I will not be harrassed by telephone and would only communicate in writing. They seemed to listen to this. They won't accept a payment plan though and am waiting to be passed to Clarity.

 

It feels awful at the time but once you get these sorted with payments that suit you the weight that is lifted off your shoulders is amazing!!! I feel better already and still haven't sorted them all out but can see a light at the end of the tunnel.

[shortymona]

Thanks Mr Worried and slgsue,

 

I've noticed that EPDL are setting up DD on my alliance account without my permission, so i cancelled the DD and rand Alliance asking if they could put a stop on setting DD and they said NO, and that i would have to ask the company to stop setting up DD's on my account.Also i asked them if EPDL could still apply payments on my cancelled card and they said Yes they can, EVEN IF THERE'S NO MONEY ON MY ACCOUNT (which there isnt)!!!So im stuck because tomorrow im sure they will try and they will be sucessful and my account will go overdrawn!!!!!!!!so ill be more in debt!!!!

I called EPDL to ask iof they've received my letter and a guy called Gerry (not helpfull at all ) said no we've not received your letter yet, so i expalined the content of the letter and told him the payment will fail tomorrow and if there's anything he can do? he said nothing until we receive the letter, so i will post another copy today, and will make a payment of £25 tomorrow anyway by standing order.

 

I still dont understand why Alliance and Leicester cannot block this companies on my request??

 

Please help meeeeeeeeeeeeeeeeeeeee:mad:

[Mr Worried]

Thanks Mr Worried and slgsue,

 

I've noticed that EPDL are setting up DD on my alliance account without my permission, so i cancelled the DD and rand Alliance asking if they could put a stop on setting DD and they said NO, and that i would have to ask the company to stop setting up DD's on my account.Also i asked them if EPDL could still apply payments on my cancelled card and they said Yes they can, EVEN IF THERE'S NO MONEY ON MY ACCOUNT (which there isnt)!!!So im stuck because tomorrow im sure they will try and they will be sucessful and my account will go overdrawn!!!!!!!!so ill be more in debt!!!!

I called EPDL to ask iof they've received my letter and a guy called Gerry (not helpfull at all ) said no we've not received your letter yet, so i expalined the content of the letter and told him the payment will fail tomorrow and if there's anything he can do? he said nothing until we receive the letter, so i will post another copy today, and will make a payment of £25 tomorrow anyway by standing order.

 

I still dont understand why Alliance and Leicester cannot block this companies on my request??

 

Please help meeeeeeeeeeeeeeeeeeeee:mad:

 

Hi Mona

 

Get online and open a new account will take minutes to do, then write to A+L closure of account etc etc. write to all the creditors and get (recorded delivery) fine example ' Gerry says no letter?'. you have to do this asap or it will get worse, but it can be prevented by doing what you are advised.

 

I opened an acc with co-op it took less than 5 mins to do.

 

Mr W

[shortymona]

Morning MR Worried,

 

I have changed my salary to my Barclays account so nothing is going to Alliance, yes i will request my Alliance account to be closed but it will take a while for this to happen, in the mean time they will apply a payment tomorrow, im sure they will.

[Mr Worried]

Morning MR Worried,

 

I have changed my salary to my Barclays account so nothing is going to Alliance, yes i will request my Alliance account to be closed but it will take a while for this to happen, in the mean time they will apply a payment tomorrow, im sure they will.

 

Hi Mona

 

Why will it take a while to close acct? dd's etc? yes they will pursue avenues of payment if they have the facilitiy to do so ( A+L Acc ) get it closed, me personally I would not make a further payment untill they had the letter ( Reg Post ) when and if they take you to court the judge will see that you have tried to ' assist and sort ' your situation and most likley go in your favour by what you are trying to implify now.

 

Relax Relax

 

Mr W

[shortymona]

thanks Mr Worried,

 

Just got off the phone to Alliance, i have requested the account closure, they said it will take 7 days to process this, in the mean time they can still apply payments if they want.

[Mr Worried]

thanks Mr Worried,

 

Just got off the phone to Alliance, i have requested the account closure, they said it will take 7 days to process this, in the mean time they can still apply payments if they want.

 

Hi Mona

 

That's great, make sure you put it in writing to A+ L

 

Dear A+ L I am writing as per our telephone conversation on 26th Nov 09 at 10.27, and would like to confirm that I wish to close my account xxxxxxxxx.

 

Please confirm this action by return post, thankyou for you assistance.

 

( Something like that )

 

Also write and advise your creditors of your situation, and believe me things will get better.

 

Mr W

[shortymona]

Thanks Mr Worried

 

Ill let you know how it goes...

[Mr Worried]

Thanks Mr Worried

 

Ill let you know how it goes...

 

Good, please do so.

 

Mr W

[mashmallow]

Just a note Mr Worried,

 

I have just stopped paying my pdl's, opened a new bank account got my wages paid into the new account so there is no money to take, wrote to my old bank which is still open and told them of the situation and not to let anyone use old card details. Informed the 3 payloan companies one has agreed a repayment of £30 per month the other has asked me to contact them which I have not only in writing and the third one thinks its going to try again to take money out, am I worried, no way. LOL

 

Watch Channel 4 Despatches - all about high interest lending 7th Dec 2009

 

XXXX Mashmallow

[Mr Worried]

Just a note Mr Worried,

 

I have just stopped paying my pdl's, opened a new bank account got my wages paid into the new account so there is no money to take, wrote to my old bank which is still open and told them of the situation and not to let anyone use old card details. Informed the 3 payloan companies one has agreed a repayment of £30 per month the other has asked me to contact them which I have not only in writing and the third one thinks its going to try again to take money out, am I worried, no way. LOL

 

Watch Channel 4 Despatches - all about high interest lending 7th Dec 2009

 

XXXX Mashmallow

 

Hi Marsh

 

You will need to close your old accounts as they will still try to pay requests, thus incuring charges for you.

Get it closed write to them dont need to give an explanation as to why your doing it, just do it..' Reg Post '.

 

Do you owe much on the pdl's/ and was it easy to obtain funds from them? I ask this question as I am curious about their protocol for give credit at such high interest?

 

Mr W

[mashmallow]

Mr W,

 

This is what this programme is all about the director has cone alot of reserch into these companies I have just checked myself into Comapnies House register, Poundstillpayday and PaydayUK are not registered on there and Wonga apparently dissolved? strange all these sharks are swimming ashore. I have volunteered to be interviewed because they need to be stopped so many people are using these compaines just to buy their shopping, this government has really screwed us all up. I have 3 payday loans at present so I will fight them off one by one. What I dont understand if I use my stopped card in a shop it would not go through so how can they use my card and it could go through, is the banks aiding and betting with these s--ts.

 

Regards,

 

 

Mashmallow

[Mr Worried]

Mr W,

 

This is what this programme is all about the director has cone alot of reserch into these companies I have just checked myself into Comapnies House register, Poundstillpayday and PaydayUK are not registered on there and Wonga apparently dissolved? strange all these sharks are swimming ashore. I have volunteered to be interviewed because they need to be stopped so many people are using these compaines just to buy their shopping, this government has really screwed us all up. I have 3 payday loans at present so I will fight them off one by one. What I dont understand if I use my stopped card in a shop it would not go through so how can they use my card and it could go through, is the banks aiding and betting with these s--ts.

 

Regards,

 

 

Mashmallow

 

Wow...so if you cancell your card, they can still collect? got to question the leagallity of that, I would speak to cc owner, are you being interviewed?

 

How much did you borrow, over what period, and why did you default?

 

And are you now fighting them because you cant pay and want payments reduced, or you wont pay because you are fighting back?

 

Mr W

[socks&pants]

Mashmallow

 

to answer the question that you asked Mr Worried about how easy it is to gain credit - too easy! I have a bad credit history and in the past 18 months it would be obvious form my credit record that I am struggling as I have defaulted on several creditors (before taking payday loans, although I have now come to an arrangement with these creditors). Once they have you, it is almost impossible to break free as you have to reloan straight away and then take another one from a different company in order to cover the interest payments on the first. It is a spiral that unless you are strong enough to put up with the harassment that you get when defaulting on the payments to them you can not get out of.

When you do default they have several different methods to cause as much embarrasment as possible (they know that people don't want anyone, especially work colleagues, to know the financial situation they are in) including phone calls to mobile, home and work. Dodgy letters (see my earlier thread) posing as baliffs etc etc. The interest on these loans and their ethics are nothing short of being loan sharks but somehow these are legal and easy to get hold of.

[Mr Worried]

Mashmallow

 

to answer the question that you asked Mr Worried about how easy it is to gain credit - too easy! I have a bad credit history and in the past 18 months it would be obvious form my credit record that I am struggling as I have defaulted on several creditors (before taking payday loans, although I have now come to an arrangement with these creditors). Once they have you, it is almost impossible to break free as you have to reloan straight away and then take another one from a different company in order to cover the interest payments on the first. It is a spiral that unless you are strong enough to put up with the harassment that you get when defaulting on the payments to them you can not get out of.

When you do default they have several different methods to cause as much embarrasment as possible (they know that people don't want anyone, especially work colleagues, to know the financial situation they are in) including phone calls to mobile, home and work. Dodgy letters (see my earlier thread) posing as baliffs etc etc. The interest on these loans and their ethics are nothing short of being loan sharks but somehow these are legal and easy to get hold of.

 

So let me try to understand.

Say you borrow £1000.00 today and you tell them it will be repaid end of Jan, what happens if you dont pay it all, or do you take the loan out over a longer period?

[socks&pants]

you take a loan out until your next payday. Some companies offer roll overs, so you pay the interest for the loan on your payday, but nothing off the original amount. This can carry on for as long as you need which means that you are always paying interest every month. e.g. £500 loan would mean £110 interest paid every month whilst you still owe £500 capital.

 

Other companies don't offer roll overs so you pay back the loan and interest on your payday. Initially you might start with a £200 loan, but after paying the interest you usually pay about £280 back. Then you reloan, but as you have had to pay the interest, the I had to reloan say £300 and so it goes on.

 

Each loan is only for 30 days max (if anyone has definate answer please say).

[Mr Worried]

you take a loan out until your next payday. Some companies offer roll overs, so you pay the interest for the loan on your payday, but nothing off the original amount. This can carry on for as long as you need which means that you are always paying interest every month. e.g. £500 loan would mean £110 interest paid every month whilst you still owe £500 capital.

 

Other companies don't offer roll overs so you pay back the loan and interest on your payday. Initially you might start with a £200 loan, but after paying the interest you usually pay about £280 back. Then you reloan, but as you have had to pay the interest, the I had to reloan say £300 and so it goes on.

 

Each loan is only for 30 days max (if anyone has definate answer please say).

 

WOW..well at least Dick Turpin wore a mask....

 

Mr W

[mashmallow]

Mr W,

 

 

I will pay what I have taken but on my terms and what I can afford and will not tolerate these morons anylonger. I have 4 one with PTP, PaydayUk,Payday Express and WDA. Pounds till payday have accepted £10.00 per month on a £950 loan and frozen any further charges, wage day have accepted a lower amount per month the other two are still playing silly games payday express said they will try again and retrieve the funds from my debit card. Yes I am being interviewed tonight to be viewed 7th Dec, I am so nervous but if it can get these muppets out of our lives we will all sleep better. Wish me good luck, ifg I do seem drunk it is because I have hit the Bacardi beforehand, only kidding, watch this space finally they are going to be publisied for who they really are.

 

Mashmallow

[socks&pants]

so Mr W you can see how easy it is to get in a complete mess with these people just so you can eat every month. As I said previously, just a look at my credit record for the past 18 months would show the difficulties I have been having, so I was fair game to them to get as much money as they could try for

[socks&pants]

good luck MM

[Mr Worried]

Mr W,

 

 

I will pay what I have taken but on my terms and what I can afford and will not tolerate these morons anylonger. I have 4 one with PTP, PaydayUk,Payday Express and WDA. Pounds till payday have accepted £10.00 per month on a £950 loan and frozen any further charges, wage day have accepted a lower amount per month the other two are still playing silly games payday express said they will try again and retrieve the funds from my debit card. Yes I am being interviewed tonight to be viewed 7th Dec, I am so nervous but if it can get these muppets out of our lives we will all sleep better. Wish me good luck, ifg I do seem drunk it is because I have hit the Bacardi beforehand, only kidding, watch this space finally they are going to be publisied for who they really are.

 

Mashmallow

 

Good for you, go at your pace, still cant get my head around the cc scenario, have you got credit on the card or is it cancelled? do you inccur charges when the request is declined?.

 

Where will they interview you, maybe pm me that info.

 

Good Luck

 

Mr W

[socks&pants]

Mr W

 

in my case if there isn't the funds in the account for the debit card details they have they will keep trying and trying. They either try your card so often that the fruad team at my bank has stopped my card (thought that it was something illegal because of the amount of attempts to use the card) or (this is wonga's favourite) they will take small amounts when ever they feel like. Wonga have done this several times until I cancelled my card, the amounts varied from £10 upto £50. All amounts were of 'funny' numbers e.g. £22.59 etc so it looks like a purchase rather than a repayment.

 

I haven't occured charges due to failed card payments, but I have had the embarassment of my card being declined in a shop (even though I knew there was enough in the bank) as the card had been stopped (fraud team) or you daren't leav money in your account as you have no prior knowledge of when/how much these companies will take from your account

[shortymona]

Hi Guys,

 

so my payments for Wageday, Payday UK and EPDL have failed today, i was contacted by Payday Uk and they said they are unable to accept my£20 per month because it doesnt work like that, and that they are a payday company so they cant accept repayment plans, the lady said they will keep trying to take card payments, and if no payment is recovered by the end on December they will pass my detials onto an external Debt recovery company????? do they mean Bailiffs? are they bluffin?

 

Havent heard anything yuet from EPDL or Wageday...

 

Please helppp